Balyasny Asset Management L.P. Increases Stock Position in Funko, Inc. (NASDAQ:FNKO)

Balyasny Asset Management L.P. boosted its stake in Funko, Inc. (NASDAQ:FNKO - Free Report) by 123.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 817,638 shares of the company's stock after acquiring an additional 451,806 shares during the period. Balyasny Asset Management L.P. owned 1.51% of Funko worth $10,948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP increased its position in shares of Funko by 384.3% during the fourth quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock worth $20,653,000 after buying an additional 1,223,939 shares during the period. JPMorgan Chase & Co. boosted its position in Funko by 5,486.5% during the third quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company's stock valued at $10,133,000 after acquiring an additional 814,357 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in Funko during the 4th quarter worth about $4,425,000. Landscape Capital Management L.L.C. bought a new position in shares of Funko in the 4th quarter worth about $3,606,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Funko by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,963 shares of the company's stock valued at $20,688,000 after purchasing an additional 234,981 shares during the period. Institutional investors and hedge funds own 99.15% of the company's stock.

Funko Stock Down 15.5 %

NASDAQ:FNKO traded down $0.65 on Friday, hitting $3.55. The stock had a trading volume of 2,253,117 shares, compared to its average volume of 763,931. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Funko, Inc. has a 52 week low of $3.50 and a 52 week high of $14.65. The business's fifty day moving average is $5.72 and its 200 day moving average is $10.15. The company has a market cap of $193.60 million, a PE ratio of -7.40 and a beta of 0.85.

Funko (NASDAQ:FNKO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.10. The business had revenue of $190.74 million during the quarter, compared to analyst estimates of $191.96 million. Funko had a negative net margin of 2.29% and a negative return on equity of 3.44%. Funko's quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. On average, equities research analysts expect that Funko, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered their price objective on shares of Funko from $13.00 to $7.00 and set a "buy" rating for the company in a research note on Friday.

Insider Activity at Funko

In related news, Director Jason Harinstein bought 15,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were purchased at an average price of $7.09 per share, for a total transaction of $106,350.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $106,350. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tracy D. Daw sold 18,608 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $7.14, for a total value of $132,861.12. Following the sale, the insider now owns 26,332 shares in the company, valued at approximately $188,010.48. This represents a 41.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,764 shares of company stock worth $239,730. 4.81% of the stock is owned by company insiders.

About Funko

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.